Circular 58/2008 — Modifies Circular 1/2006

"2008, Year of Physical Education and Sport"
CIRCULAR 58/2008
Mexico City, November 13, 2008.
TO THE RETIREMENT FUND ADMINISTRATORS;
BROKERAGE FIRMS; EXCHANGE HOUSES; POPULAR SAVINGS AND CREDIT ENTITIES; CREDIT INSTITUTIONS; INSURANCE INSTITUTIONS; INVESTMENT COMPANY SHARE DISTRIBUTING COMPANIES; LIMITED OBJECT FINANCIAL COMPANIES; MULTIPLE OBJECT FINANCIAL COMPANIES, AND INVESTMENT COMPANY OPERATING COMPANIES. SUBJECT: MODIFICATIONS TO CIRCULAR 1/2006

The Bank of Mexico, based on Articles 28 of the Political Constitution of the United Mexican States, sixth and seventh paragraphs; 2°, 3° fraction I, 24 and 31 of the Bank of Mexico Law, 22 of the Law for Transparency and Ordering of Financial Services, as well as 8° third and sixth paragraphs, 10, 17 fraction I and 20 fraction IV, which provide for the attribution of the Central Bank, through the Directorate of Central Bank Regulations and the Directorate of Operational and Payment Systems, respectively, to participate in the issuance of regulations; Sole Article of the Agreement on the Assignment of Administrative Units of the Bank of Mexico, fractions I and IV, with the objective of promoting the proper functioning of payment systems, and considering:
a) The convenience for institutions for the deposit of securities to participate in the Interbank Electronic Payments System (SPEI), in order to provide greater security and efficiency to participants in the securities settlement systems, and b) The start of operations of the Securities Deposit, Administration and Settlement System (DALI) starting on November 14.

It has resolved to modify the title, as well as the definitions of Participant and Transfer provided for in numeral 1, and to add the definition of Institutions for the Deposit of Securities to the aforementioned numeral, of the "Rules to which retirement fund administrators; brokerage firms; exchange houses; credit institutions; insurance institutions; investment company share distributing companies; limited object financial companies, and investment company operating companies that participate in the Interbank Electronic Payments System (SPEI) must adhere", provided for in Circular 1/2006 of May 19, 2006, as well as its modifications, to remain in the following terms:

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"RULES TO WHICH RETIREMENT FUND ADMINISTRATORS; BROKERAGE FIRMS; EXCHANGE HOUSES; POPULAR SAVINGS AND CREDIT ENTITIES; CREDIT INSTITUTIONS; INSURANCE INSTITUTIONS; SECURITIES DEPOSITORY INSTITUTIONS; INVESTMENT COMPANY SHARE DISTRIBUTING COMPANIES; LIMITED OBJECT FINANCIAL COMPANIES; MULTIPLE OBJECT FINANCIAL COMPANIES, AND INVESTMENT COMPANY OPERATING COMPANIES, THAT PARTICIPATE IN THE INTERBANK ELECTRONIC PAYMENTS SYSTEM (SPEI) MUST ADHERE" "1. DEFINITIONS . . . . . . Securities Depository Institutions:
legal entities to which a concession has been granted to operate as such under the terms of the Securities Market Law.
. . .
Participant: the Bank of Mexico, as well as the Retirement Fund Administrators; Brokerage Firms; Exchange Houses; Popular Savings and Credit Entities; Credit Institutions; Insurance Institutions; Securities Depository Institutions; Investment Company Share Distributing Companies; Limited Object Financial Companies; Multiple Object Financial Companies, and Investment Company Operating Companies, that have signed the contract referred to in numeral 2, which may send and receive Payment Orders under the terms provided for in these Rules. . . . Transfer: the transfer of resources that a Participant instructs from its SPEI Account to the account that, where applicable, it has in the Bank of Mexico's Account Holder Attention System (SIAC-BANXICO) and vice versa."

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TRANSITORY
SINGLE. This Circular shall enter into force on November 14, 2008.